Texas Real Estate Exam Prep Correct 100%

An attorney licensed to practice law The answer is an attorney licensed to practice law. Only licensed attorneys may prepare legal documents such as deeds, mortgages, deeds of trust, and notes. - ANSWER In Texas, who is authorized to draft deeds, mortgages, deeds of trust, and notes? A) A licensed real estate broker B) The mortgage lender C) An attorney licensed to practice law D) The title company clerk A) the notice must be delivered to the purchaser before the effective date of the contract. The answer is the notice must be delivered to the purchaser before the effective date of the contract. If the notice is not delivered to the purchaser before the effective date of the contract, the purchaser may terminate the contract for any reason within the earlier of seven days after the date the purchaser receives the notice or the date of closing. - ANSWER A seller of residential real property that is subject to membership in a property owners' association is required to give a prospective purchaser a written notice. All of the following are true regarding the written notice EXCEPT A) the notice must be delivered to the purchaser before the effective date of the contract. B) the notice must state that the purchaser would be obligated to be a member of the association. C) the notice must state failure to pay association assessments could result in a lien on and the foreclosure of the property. D) the promulgated Addendum For Property Subject To Mandatory Membership In A Property Owners Association. C) A company that, for an advance fee, matches individuals from different parts of the country who want to exchange properties and assists them in doing so The answer is a company that, for an advance fee, matches individuals from different parts of the country who want to exchange properties and assists them in doing so. Matching individuals for a fee or commission is an act of brokerage and requires a real estate license. - ANSWER Which of the following requires a real estate license? A) An executor selling a decedent's building B) A person employed by a builder to sell the new homes C) A company that, for an advance fee, matches individuals from different parts of the country who want to exchange properties and assists them in doing so D)